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tv   MONEY With Melissa Francis  FOX Business  February 13, 2013 5:00pm-6:00pm EST

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ashley: let's go off the desk and to madison square garden. this little guy named banana joe, an affenpinscher was named best in show at the westminster kennel club dog show. he is pretty impressive. he is not just a pretty face. banana joe's owner says the pooch understands four different languages. we do not kid. liz: banana joe. "off the desk", for lovebirds looking to try something different this valentine's day we have just the thing the department of environmental protection offering valentine's day tours of newton creek sewage plant in brooklyn. line up.
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they are adding additional tours due to overwhelming demand. first valentine's day tour, don't turn off your nose in 2012 attracted 220. ashley: turn up your nose is what you have to do. my wife would divorce me. liz: things to watch tomorrow, cisco reported earnings that beat on both the top and bottom line but the stock is selling off after-hours. i will be speaking 3:00 p.m. eastern with ceo john chambers tomorrow. so please don't miss it. ashley: don't miss that. number one thing to watch tomorrow will be initial jobless claims. economists expect claims to drop by the way by 6,000 to 360,000. liz: that is a number you want to see go down. "money" with melissa francis is next. melissa: i'm melissa francis and here's what's "money" tonight. the president says hiking the minimum wage will do wonders for workers but a multifranchise owner testifying in front of congress today says it is going to do just the opposite. he joins us exclude exclusively to explain why.
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plus pass climate change legislation or else. president obama threatens executive orders to cut pollution but would cutting out congress cross the line? lou -- blue dog democrat kurt slader is here to respond. california is running out of doctors. the golden state prepares for obamacare only to find out it has got a physician shortage. how a wave of newly insured patients could overwell wem the state. even when they say it is not, it is always about money. melissa: so on to our top story tonight. one of president obama's boldest calls in last night's state of the union speech was to raise the national minimum wage from $7.25 to nine bucks an hour. that's a 24% increase. and it brings us back to the conversation we've been having here on "money" on whether or not this will
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lift the economy or just lift the unemployment rate. today on capitol hill business owners in the trenches, testifying in front of the house committee on small business. joining us in a fox business exclusive straight from testifying is sean fogg. sean's a multiunit franchise owner. he owns and operates businesses across four states. thanks so much for coming on and tell us a little bit what you, what message you went to carry today. >> thanks for having me on, melissa. i came to capitol hill today to talk to them about small business and basically how government is getting in our way of growth. melissa: do you think they believed y? how did you make your case? what are they specifically doing that's slowing you down? >> well the big thing is access to capital and the regulations and the policies that they're putting in place but more importantly it's more about the indecisiveness of what the policies will be. they continue to kick the can down the road for six months to a year and i have no idea what my taxation
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rate will be next year and i just found out about what it will be this year. and when you talk about the affordable care act, there continues to be waivers, exemptions, changes and differences in the policies that were originally very difficult and cumbersome to understand and now it continues to get more difficult. melissa: one thing that sound certain you will have to pay your workers more. you own and operate 12 franchise units. you have 4 fran chiees. you have mrs. fields famous brand, pretzel maker franchises all kinds of things americans are very familiar with across the country but these are places where you employ people at minimum wage. how is that going to impact your business if you're forced to pay people $9 an hour? >> as you mentioned in the beginning it is a 24% increase at a minimum because those people that i currently pay, maybe $9 an hour, when the minimum wage
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goes up they will want more because they have been there longer or they're a full-time employee. in my business i employ a lot of high schoolers people just getting their first job and they are not full-time employees. president obama last night was very specific when he talked about the minimum wage and the federal poverty level and someone who works full time at minimum wage. none of my full-time employees make the minimum wage. melissa: that is a great point. that is how some people get started. if there wasn't a minimum wage that was low they wouldn't get a job. other people would take the opportunity at a higher wage. it is sort of the openly way to get started. in your case, how would you respond? if you have to pay 24 or 30% more. you make a great point. you have to lift wages of everyone else in order to stay in line that money will not grow on trees. what are you growing to do? will you cut back on their hours? will you cut back on other workers? will you raise the
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price of your products? what would you do? >> that same question was asked in the small business committee today. i can't lay i don't have anybody or reduce hours. we're at minimum staffing levels. part of what we've done with the downturn over the last several years. we watch our labor costs very closely. what it means though i won't continue to grow. i won't open anymore locations because when i look at the ability for a return on investment, if i have 24% more or 30% more in payroll costs, that is going right to my bottom line and take away any profit that i might be able to expect or realize. and so i'm going to make a decision not to open more locations. every location that i open, employ anywhere between eight and 15 people. melissa: wow so those 23 million people unemployed or aren't working enough to pay their bills, those are people that would suffer as a result of this because there wouldn't be a new job that you would create because you would be paying your current employees even more. why wouldn't you pass it along in the form of higher
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prices? that is the arguement i always get from people who are in favor of raising the minimum wage. well prices will go up. you know, but wages will go up so it all answer out. people pay more but they make more, really virtuous cycle and all works out? you wouldn't raise your prices? >> no. i think you're exactly right. but, you have to remember i own great american cookies and pretzel micker. there will not be opportunity for me to charge $4 for a cookie. i have a lot of problems increasing my prices because eventuully gets out of range for someone to purchase an impulse buy like that. what we have to do is find ways to mitigate any expenses that go to our bottom line with other methods. ultimately like i said, not only will i not open new locations but some of my locations very low in profitability right now i will decide to close those because i will not make any money whatsoever. so not am i not employing new people but there are current employees i will no
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longer have in the system. melissa: sean, you're in the trenches. you are so practical. out there fighting the fight. i really hoped they listen to you today because a lot of politicians are not practical. they're not looking at the math. thanks for coming on. we appreciate your time. >> sure, thanks for having me. melissa: looks like the minimum wage might have a, ma mum impact if you listen to sean. let's attorney to today's money power panel. jonathan hoenig fox news contributor and portfolio manager at capitalist pig. christian dorsey economic policy institute and of course that is james freeman to the "wall street journal." welcome to all of you. james, let me start with you, what do you think of what you just heard? >> it is a sad story especially for current employees. sounded at beginning of interview they were safe although no new jobs. he said at end i might have to cut locations too. this is exactly what most economists would predict. even your friends on the harvard faculty they realize this is junk economics. you raise the price of labor, you're going to get less of it. melissa: james, what do you
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think, i'm sorry, christian, what do you think of what you heard. >> found the small business owner, largely sensible but i would like to bring out a key couple of points from the president's proposal. melissa: sure. >> one is value statement, melissa. the value statement is that people who work ought to not be earning poverty level wages. and certainly increasing the cost of labor will increase costs for business but, increasing, you know, providing usda inspections increases the cost of bringing food to market. it is still the right thing to do. i think small business owner is very, very wise in what he said. this is not necessarily going to result in the loss of jobs, because there are other ways that businesses can go about --. melissa: that is not what he said. he said he will have to close locations and he will not open new locations and hire new people. i mean, jonathan, speak to christian's main point. you know it is idea that it's the right thing to do, that you want people that are out there other thanning minimum wage to be able to support themselves.
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that is value that makes sense. unfortunately the math and practicality of it operating in the real world is the money has to come from somewhere. >> well, indeed, melissa. wages are not arbitrary. in a free market they're actually determined by supply and demand for labor. quite simply some jobs especially extremely low skilled jobs which sean's employees participate in aren't worth $9 an hour. so sean's point he simply can't afford to hire more people, build that new establishment. open that new store. that is what is so difficult for many on the left to understand. minimum wage actually creates unemployment and hurts exactly the low skilled, low income people that ostensibly the president wants to help. melissa: james, respond to christian's point, this is a moral value. people in making minimum wage is -- >> moral statement unemployed people want is show me a job. the idea of $9 a hour is great help to workers. why not? why not go to 10, 20, $50?
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if government can conjure wealth for all of us seems like mr. obama is limiting us to $9, right? >> no, his proposal, this proposal is to bring full-time workers from 14,000 to $18,000 a year. we're by no means talking about wealth. we're talking about people deeply poor, less poor. let's get real here. melissa: everyone get out the calculators i want to play this for you. listen to what the president had to say. we'll talk about it on the other sides. >> tonight i propose we use some oil and gas revenues to fund energy security trust. i propose a fix it first program, to put people to work as soon as possible on our most urgent repairs. like the nearly 70,000 structurally deficient bridges across the country [applause] no one who works full-time should have to live in poverty and raise the federal minimum wage to $9 an hour [applause] tonight i propose working with states to make high-quality, preschool
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available to every single child in america [applause] nothing i'm proposing tonight should increase our deficit by a single dime. melissa: so that last part was the part that got me because if you added up all the things he talked about it was hard because they were not totally specific but you came up with about $16 billion in new spending. i'm wondering how that doesn't add to the deficit at all? jonathan, you're shaking your head. go ahead to attack it first. >> more, smoke and mirrors from the president, unfortunately melissa. as a results as all government force does in the destruction of wealth. the destruction of jobs. when government gets in the business of business, no good comes of it and say lights everyone's rights. the minimum wage is part of that. the president's new spending is part of that. and essentially results in the destruction of wealth. but obviously that is gameplan. to grow the economy by growing the size of government hasn't worked in last four years. won't work in the next four. melissa: christian you may love a lot of things he said,
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ultimately they cost money. like saying you can lose weight without diet and exercise. it just doesn't happen. how do you do it without costing money. >> one thing i took issue with the president said last night. this whole idea we are so hysterically focused on the deficit we don't do common sense things to grow our economy is completely ludicrous. he alluded to that fact. now there are all kinds of ways that you can offset the spending with increased revenues or reductions in other places. that doesn't exactly move the ball forward. i think the president should have been real talking about what needs to be done. melissa: hang on. let james respond. investment, what christian said. >> they like to put that word. it is question of last night was how's the government going to pay for all this? i think jack lew largely answered it in his nomination hearing today to be secretary of the treasury in the senate. more revenue, more revenue, more revenue. that was the answer on virtually, every time tax reform came up, that was his answer. so --. melissa: jonathan real quick,
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last word. >> revenue, revenue is taxes. just like investments, investment means government spending. revenue means more government taxes. so sean's cookie might not cost $4 now. maybe cost five or six because the more you tax people the higher prices have to go. melissa: that better be a big damn cookie that's all i have to say, guys. thanks for coming on. we appreciate it. >> thank you. melissa: so here's our money question of the day, what do you think is the best state of the union moment? a lot of you said when it ended. a lot of you. i'm not sure that counts. we know who our viewers are. the biggest response when the president said none of his big new incentives would cost a single dime that's what we're talking about. like us on facebook.co facebook.com/melissafrancisfox or follow me on twitter @melissaafrancis. that is what i'm doing during the commercial. too's market moment, will it or won't it. the dow came within striking distance of all-time high but declines by mcdonald's
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and boeing helped pull the dow below the 14,000 mark once again. meanwhile the nasdaq and s&p 500 managed to squeeze out slight gains. next on "money", president obama threatens congress with executive orders to combat environmental change. bun blue dog democrat says the president has gone too far. he joins us to explain why. more "money" coming up. twins. i didn't see them coming.
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>> if congress won't ask soon to protect future generations i will. i will direct -- [applause] i will direct my cabinet to come up with executive actions we can take now and in the future, to reduce pollution, prepare our communities for the consequences of climate change, and speed the transition to more sustainable sources of energy. melissa: wow, president obama there, really throwing down the gauntlet on climate change last night. with so much on his plate, clean energy and the environment be so high on the list? is the president overstepping hi bounds on this issue? here with more on this, blue dog democrat congressman kurt schrader. welcome back to the show.
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what do you think about that idea? we have so many problems right now? you know we have this unemployment, so many people out of work. house being market, problems with small business. >> yep. melissa: there's a lot of things to work on. how did you feel about this being so high on the list? >> well, i'm glad it was further down in the speech and he led off with jobs and the economy and dealing with our fiscal deficit picture. but, i really bristle at the idea he will unilaterally as one member, one branch of government dictate to the other two branches more importantly dictate to the house and senate, that constitutionally you're supposed to make laws, new laws. that is not right and that is just not going to happen. melissa: do you think that will fly? this isn't the first time he talks about the executive order. this seems like a new tool he whipped out of his bag and feels like, he is really going to use here in the second term? >> well, talk is one thing. action is another. i was just as upset when
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george w. bush went the executive orders all over the place and i remember a lot of my democratic colleagues being very, very upset wanting to impeach george w. bush. i didn't like it when he did it. hey, i don't like it if this president goes down that road. melissa: how do you battle back against something like that? >> what you can do, ask congress. he pros pod a -- proposed a bill to promulgate greenhouse gas standards without congress stepping in. we stepped up to the plate. said no that will not happen. passed legislation on the house side to reign that in. there is point i happen to believe climate change is here and very, very real. see that in my home state of oregon. but it is not, the president's jurisdiction in a constitutional democracy, a republican like we have, to unilaterally make these decisions without direction from the american people. we represent the american people as congress. melissa: you have to wonder about implications of some of the other ideas he put on the table with respect to energy one is which the
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energy security trust. use revenue from oil and gas production on public lands to fund new energy research. to me that sounds like new taxes or new costs that would go into production. anytime you increase the cost of energy it shows up at the pump. and you know today we're having another day where prices at the pump are highest they have ever been on this calendar day ever. i don't know that the american public can handle did higher prices. >> hopefully that is not the case. what he is talking about is existing royalties and revenues. already have a land conservation trust that oil and gas revenues support ecological priorities this country has. makes more sense to me. more sense than if the money goes into energy trust. one of the things we seem to have bipartisan agreement on is doing conservation measures here. window makers, door makers back to work. melissa: where is the money going now? if it is royalties the government is already receiving and money coming in, wouldn't be additional,
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is it funding something else that wouldn't get funded? >> my assumption we're drilling now more than ever. natural gas seems to come on big-time. the president seems to be supportive of that as long as it is done well. that increases revenue. maybe you divert percentages going heretofore in other areas and go to the energy trust. that will be our job hopefully at the end of the day. melissa: congressman, i asked tongue and cheek. president chu might have been president last night, we saw announcement saying tonight was from the white house energy secretary stephen chu has been designated not to attend the state of the union address at the capital this evening. i assume he was in a bunker somewhere else? do you think he could have led us well had it come to that? >> i don't know about that. i think dr. chu is a respected scientist. he is glad to get out of the washington, d.c. dodge city is not his stock and trade, i'll say that. melissa: you're a good sport. congressman, thanks so much. >> thank you. melissa: time now for
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today's fuel gauge report. iea lowered global demand outlook for oil for 2013. a tepid global economic recovery is primarily attributed for that cut. that reeort flies in the face of the outlook from opec and the u.s. energy information administration. both raised their forecasts for oil demand yesterday. so who knows who is right there. that helped take a bite out of oil futures. they settled down 50 cents at 97.01 a barrel. natural gas futures rallied off a two-week low. forecasts say colder than expected weather is ahead for the next two weeks as we apparently take a break from global warming here. analysts expect a drawdown in u.s. stockpiles of u.s. natural gas. coming up on "money", the don't won't see you now. california scrambles for obamacare. there is one problem. it has run out of doctors for all those new patients of. we're going to explain it. plus it is like something out of a spy novel.
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an elaborate oil trading lot by iran and syria is discovered and it spans the globe. are u.s.-led sanctions missing the mark? details coming up. do you ever have too much money or too much of secretary chu?
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thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. ♪ . melissa: so the affordable care act kicks in next year and california is already bracing for impact. yes more people will get access to health insurance but turns out only 16 of california's 58 counties have required number of primary care physicians that are needed. some state legislators want to redefine who can treat patients, possibly having nurses and pharmacists pick up slack. is this future of health care? joining me california
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assembly man, roger dickinson and fox's own charles payne. thanks to you both for joining us. assemblyman, let me start with you. do you think is a solution? >> this will fill provider gap what we know will be extrordinarily number of physicians as we cover people under the afca. so this is part of the answer. melissa: charles, what drives me crazy about this, maybe you have the best intentions i feel like i say this every day. if the best intentions but you don't do the math ahead of time of what the implication is. so lo and behold we're adding all these people to the system and then you realize we don't have nearly enough doctors and you can't invent doctors overnight. by the way they're not making that much money anymore, their insurance is so high, people i know don't want to become a doctor. this is big problem. >> anecdotally when i was
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kid driving on highway with a car with a doctor's license plate it was always the best car on the road. they have toyota corollas, but to get back to the same point i'm not sure you can argue this unintended consequences. a million articles were written this common sense we'll add 30 million people and same amount of doctors. there won't be change in quality of care. i wonder lawmakers who think this is good idea, okay, you know what, you take my doctors, mr. so-and-so i will let the nurse provide me with my primary care. melissa: assemblyman, are you getting push back on this? does it make people nervous? do they realize it is inevitable. i don't know what other solution would possibly be because there are not enough primary care physicians to go around? >> you know, i don't really think this is a question of compromising the quality of care. in fact we have many health care professionals such as nurse practitioners, optometrists, pharmacists, physicians assistants, who are very, very competent and
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capable. what we have done historically is actually limit them legislatively in terms of the services they can provide. so i'm not concerned in fact about competent care being provided by expanding the scope of practice for some of these professions. the reality is, we do face a shortage of physicians, at least in the short and intermediate term. but we have a way of meeting the need of making sure that those people are --. melissa: if there were limits in place and laws in the first place were they not there for a reason? were they laws that didn't make sense? >> in some cases yes. i think that's true. i think we have narrowed the scope of practice in some instances without a real medical justification for doing that. and what the implementation of the aca requires us to do is reexamine whether there's some areas in which these other health care professionals can competently provide quality medical care. >> listen, with all due respect to the gentleman
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from california, is he going to give up his doctor and let his pharmacist provide his care for him? so easy to say this. listen, and i'm not trying to diss all of them. there are great nurses out there and may be some great pharmacists out there and other people. the bottom line though people want doctors. wasn't this all about the best medical care? wasn't that the argument for obamacare in the first place? wasn't that what it was all about? now the bottom line is, even before this we were going to have a shortage because of all the older people who are putting a drag on the system. next 20 years it was already going to be tough. this is making unmitigated nightmare. makes you wonder what other worst case scenarios could happen from obamacare we're not talking about right now. melissa: assemblyman, doesn't it take us down the road to a two-tier system? because if you hear people feel the way charles is speaking if they have money they will go to top-notch doctor, and people who can't afford that, seeing whoever is available? >> no, i think this concern is completely misplaced.
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the fact is, if you want to personalize it. i have great confidence in those who assist my doctor. i have great confidence in my -- >> talking about them being your primary doctor. >> so the point here is, to make sure, that we concentrate the medical resources where they're best applied and most needed. not everything needs to be done by a doctor. not every person needs to be seen by a doctor. melissa: okay. >> just as people have made adjustments to managed care and other changes in the health care environment, this is something as long as we're providing quality care, people will be fine. the point here is --. melissa: that will be the test. >> we can't cover people and not give them access to care. melissa: absolutely. assemblyman, charles payne, thanks so much. thanks for coming on. coming up on "money". analyst it oil trading scheme by iran and how they're pulling it off under the u.s.'s nose. "piles of money" coming up.
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♪ . great, everybody made it. we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashy, ashley mahall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protocol note, i'd like to talk to tim hill about his tendency to use all caps in emails. [ shouting ] oh i'm sorry guys. ah sometimes the caps lock gets stuck on my keyboard.
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you are gonna need a wingman. and with my cash back, you are money. forget him. my airline miles will take your game worldwide. what i'm really looking for is -- i got two words for you -- re-wds. ♪ the's got to be better cards than this. [ male announcer ] there's a better way with creditcards.com. compare hundreds of cards from all the major banks to find the one that's right for you. it's simple. search, compare, and apply at creditcards.com. first round's on me. melissa: so in a stunning development in the middle east, for the first time there may actually be proof that iran and syria are working together to avoid sanctions. a reportedly works like this. iran sells weapons and ammunition to syria. since syria doesn't have any money to pay it, it gives
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its oil to iran as partial payment. and then iran turns around and secretly ships that oil from syria through the suez canal and the red sea, finally to the buyers of this now iranian oil, like pakistan, india and china among others. we have chris from the institution of the study of war and he brought this to our attention on "money". welcome back to the show, chris. what proof out there is this is going on? >> a pleasure to be here with you this evening, melissa. we've known quite some time there is a one-way trade between iran and syria. that is to say iran's defense organization was producing as many weapons and ammunition that the syrian army could use. the iranian air force was flying weapons and ammunition to syria. in the addition the iranian navy was taking weapons and ammunition up through the suez canal and off-loading at syria ports of tartus. this is the first evidence we've seen there is trade going in the opposite
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direction, which is two tankers from the national iranian tanker company on-loading oil up in syria and taking it through the suez canal and essentially mixing it in with the rest of the iranian oil trade headed out to their remaining trade partners. melissa: why is this a big deal? >> it is a bill deal because it shows the syrians till have a life line economically. for the longest time, for two years, everybody is saying it is simply a matter time until assad false. he out lasted all his skeptics and all of is critis. there is no evidence he is willing to give up power. it shows so far that the american strategy of sanctions on iran failed to produce any tangible results. we've had a distinct and negative impact on the iranian domestic economy but we've had no impact at all on the iranian military industrial complex. melissa: on the one hand. they say they're making so much less money from exporting oil and, you know, and everyone in washington sort of cheers. on the other hand they talk about the massive
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investments they're making in their own infrastructure and their own oil facilities. you say, wait a second where are they getting money for that. now we're getting some idea. >> yeah, absolutely. the point of the matter is, iran doesn't need to generate a lot of cash to survive. they have got a subsistence economy in place. their military can operate on a bare bones budget because they have a vertically inat that greated state owned industrial system they can withstand a lot of pressure. i'm sure your viewers appreciate the fact that state-owned enterprises are inherently less efficient than private enterprises but state-owned enterprises can function as a method or instrument of state strategy. that is what is happening in iran right now. melissa: how do we stop this? >> we really don't have any many options, left, melissa. unfortunately we got with purely economically based sanctions up until this point. iranians with stood that. they have five remaining trading partners, south koreans and pakistanis
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continue to trade with iran in terms of the oil trade. it will be difficult for us to go to the countries to convince them to decrease oil purchases from iran. the only real option we have left is maritime blockade of the iranian oil industry. that is not something we fully considered, but if we're genuinely interested in stopping iranian nuclear program, that may be the only option we have left. melissa: if we don't they get closer to having a weapon and we look weaker and weaker around the world. >> that is the best point we can make here, melissa. we continue to look weak. we said it is not acceptable for iran to develop a nuclear weapon. they essentially told us we don't care what you think. we'll not allow iaea inspectors in. we'll upgrade the centrifuges. we'll enrich uranium to get to weapons-grade uranium. they're doing everything they need to do to manufacture and deploy a nuke clear weapon. melissa: thank you very much, chris. >> thank you. melissa: there were so many
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melissa: so we've got breaking news on hedge fund investor bill ackman and his shortinn of herbalife. fox business's charlie gasparino has been following the story. now, charlie, you have become the story. >> yeah. i mean it is kind of interesting. he was speaking at the harbor investment conference. he helps put this together at jpmorgan. he is one of the chairman of the conference. they talked about a number of issues. they waited for his speech at end of the day i knew he would talk about herbalife. it was the attack on herbalife you expect. he is a short seller. he says herbalife is pyramid scheme. what is interesting he used as an interview they were ducking his questions, an interview we did here on the fox business network, that i did with dez walsh and basically read the transcript of the interview where we talked about, i asked walsh, will you answer all the questions that bill ackman puts to you? we knew at the time that bill ackman was going to put
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questions to them, a bunch of questions about their business model and des walsh danced around the issue but he would basically be happy to answer any legitimate questions from ackman. what ackman said at this conference to date none of his questions have been answered. half is a victory lap, fox businesses make as little news here. the second half there's a legitimate story here according to ackman. melissa: it's a huge story. this has been a fight to the death between des walsh who heads up herbalife. >> he is the president. melissa: he is the president of herbalife, fighting against bill ackman, a activist investor, a short seller who said came out unequivocally. >> it's a fraud. melissa: it is a fraud. house of cards. investors get out. we're shorting this. he put a tremendous amount of pressure. it has become a bottle back and forth between these two entities is this a business or not. now you're right in the middle of it with your reporting. >> i will say this i want people to know out there, nice that bill mentioned me. i cover this like baseball. i have no horse in this
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game. melissa: right. >> people at herbalife seem like nice enough people. i know bill ackman, december guy, smart man. we're awaiting a response from herbalife. they were supposed to have one in the can. we reported that earlier. to see what they have to say. i will say this, i think des walsh if i had him here sitting in your chair, okay you said you would answer any legitimate questions from mr. ackman, he would say we don't believe his questions are legitimate. melissa: now the ball is really in his court. once again this is bill ackman, going out and standing on his platform saying where are these answers? >> the stock is stuck at $30 a share. we show a chart if we can get one. went as high as 40 -- went as low as 20, remember from the 40s. it went, as high as 42. it has come down a lot since then. and it's in sort of nowhere land, half the people are short, half people are loaning and they're still waiting for more evidence. did the stock move on his speech? melissa: looked like in last
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chart in bid and ask it was taking a hit in the after-hours. >> the notion that you don't answer questions is like, obviously questions, at least that's what the market is saying. melissa: there you go. >> they don't like that. but, listen this, is going to play out. i tell long-term investors, you know this is not a stock you really want to be in. if you want to play around, want to trade, you know, have fun. melissa: traders looking for daily action are deep in this. long-term investors are pretty terrified. >> charlie brady our statistician here, he will tell you this is one of the most hotly traded stocks in the market. goes up and down wildly every day. melissa: charlie gasparino, good for you. thanks for coming on. coming up on "money". almost time. the best of the best of the state of the union of the it is a special "spare change." don't go away. do you have too much money or too much charlie gasparino? no way. ♪ . [ kitt ] you know what's impressive?
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goes to senator marco rubio. you have to feel for the guy. listen he is 41. it is his time to shine. deliver the official gop rebuttal to the president's state of the union. a huge moment! and this happens. >> nothing is frustrated me more than false choices like the one the president laid out tonight. the choice isn't just between big government or big business? melissa: oh. poor guy. i got to tell you. i like him better today. i feel like he is a human being. he is not plastic. like every other politician. >> like the bottle. >> look at you, julie. melissa: come on! he is a real person now he is not some slickster. >> no, no. you're right. i just watched that again, looked like a hostage video. melissa: oh. >> my wife by the way concurs exactly. melissa, it made him look human. julie you admitted to me you had a secret crush on marco
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rubio. >> not so secret anymore, tony. thanks for telling everyone. >> media had a funny line. more than just reaching for the water. he was staring at the camera like it was going to steal his watch. that was probably a better description. didn't re-air his picture. i mean, he can really turn it around, it could be a positive for him to get out there and just really make fun of himself. he should go on that network that i won't talk about on saturday night and he should get out in front of it and really make it hysterical. he took a step in the right direction by tweeting that. they should have had a good comeback, they missed a golden opportunity for marketing. i don't know, it's turning into a big win. >> look at you, melissa. >> are you feeling my crush. melissa: no, no, i'm not saying
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anything. okay, something that you don't bank on seeing at the state of the union address, president obama's fist pump exploding with mark kirk on his way to the podium to deliver his address. he has swagger. >> he does. mark just came back from near collapse and paralysis. >> by the way, mark kirk replaced a person in the senate. he is a cool as a cucumber, i'm your buddy, high five, the stories are like that when the cameras are on. >> give a problem with them when he is gone from the camera.
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speak it when you have vice president biden in the background, fidgeting and do anything he can. i think he was trying to stay awake. speaker boehner refused to move even a cheap muscle. he wasn't going to blink, nothing. tell me the truth. to do with the president even once with those two doing their own shows in the background? >> i love joe biden. i have spent time on camera with him. [talking over each other] [talking over each other] melissa: is fighting off sleep. >> joe biden reminds me what i look like in my cousin's wedding video when i was 12 years old.
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[laughter] [talking over each other] >> the poor guy can't catch a break. melissa: i thought he looked very sleepy. >> there is a story to this. john boehner and joe biden agree that there's should be a dignified a dignified event. [talking over each other] melissa: moving on, did it strike anyone as odd that ted nugent was a special guest at the state of the union? especially after he said this last april. >> barack obama becomes president in november, again, i will either be dead or in jail by this time next year. melissa: was that ironic or intentional? i don't

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